MONETT, Mo., April 27, 2021 /PRNewswire/ -- Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Today, its ProfitStars® division announced the availability of its enhanced Gladiator® Virtual Information Security Officer™(vISO), which now offers a Governance, Risk and Compliance (GRC) Software as a Service (SaaS) online platform, enabling financial institutions to conveniently maintain a consolidated information asset inventory, risk assessment evaluation for each asset, business continuity plans and vendor management records.
The vISO service provides financial institutions ongoing access to Gladiator certified experts who have the knowledge and experience to help them develop, implement, and maintain a scalable information security program. It offers the tools to navigate IT security compliance and manage auditor expectations. Outsourcing this function is beneficial to financial institutions when faced with a lack of expertise and limited resources.
Susan Hubble, Chief Information Officer, for Scranton, Pa.- based People's Security Bank and Trust, said, "In these days of ever-increasing risk related issues, it's reassuring to have the additional support of the Gladiator vISO service. The Gladiator vISO has insight into a variety of financial institutions and their security issues – these insights along with the experience of our Gladiator vISO works to our advantage because we have an immediate boost in our abilities to analyze risk and make better decisions. The addition of a system that integrates the constant learning and application of knowledge in a virtual, automated format keeps us aware of new threats and updates on regulations and policies. Partnering with Jack Henry has been the most efficient and effective way to augment our IT risk and compliance resources."
As compliance becomes more complex, the need for automation has grown just as much as the need to eliminate siloes. Financial institutions are slowly moving away from spreadsheets and relying on technology providers to manage enterprise risk and information for financial savings, improved decision-making, reduced guesswork, and exposure to fraud. Many financial institutions have realized the importance of GRC technology in times like these when detailed preparedness plans could have made the transition to working from home easier.
Matt Riley, President of ProfitStars, added, "Risk is defined differently depending on individuals within the organization, but what's important is that it's consistent and standardized when it comes time to making decisions. Banks and credit unions already have the organizational structures and processes in place, what's missing is the technology necessary to bring these pieces together in a single view to better serve their customers and members. Our enhanced service was created to strengthen GRC strategies, while still delivering the guidance and expertise our partners still expect to navigate today's regulatory environment."
Additionally, the enhanced vISO service enables financial institutions to gain access to risk data in real-time and review dashboards and graphics that allow them to make security decisions. As a result, banks and credit unions can perform asset-based risk assessments tied to their control environment, create business continuity plans, and maintain an asset inventory and policy repository based on their risk appetite. Having one common repository of data can help unify and standardize risk management, eliminating siloes and providing more visibility across the organization.
About ProfitStars
ProfitStars®, a division of Jack Henry & Associates, Inc.®, helps financial institutions of every asset size and charter, and diverse corporate entities, proactively identify and prepare for risks and market changes that could negatively impact their business. ProfitStars' industry-leading solutions and services include JHA Payment SolutionsTM, Information Security & Risk Management, Online & Mobile, Lending, Financial Performance, and Imaging/Data Management. These solutions help approximately 9,000 clients mitigate and control risks, optimize revenue and growth opportunities, contain costs, and drive future success. Additional information is available at www.profitstars.com.
About Jack Henry & Associates
Jack Henry (NASDAQ: JKHY) is a leading provider of technology solutions primarily for the financial services industry. We are a S&P 500 company that serves approximately 8,600 clients nationwide through three divisions: Jack Henry Banking® supports banks ranging from community banks to multi-billion-dollar institutions; Symitar® provides industry-leading solutions to credit unions of all sizes; and ProfitStars® offers highly specialized solutions to financial institutions of every asset size, as well as diverse corporate entities outside of the financial services industry. With a heritage that has been dedicated to openness, partnership, and user centricity for more than 40 years, we are well-positioned as a driving market force in future-ready digital solutions and payment processing services. We empower our clients and consumers with the human-centered, tech-forward, and insights-driven solutions that will get them where they want to go. Are you future ready? Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.
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SOURCE Jack Henry & Associates, Inc.
Analyst Contact: Vance Sherard, Corporate Dev. & Investor Relations, (417) 235-6652; Press Contact: Barbara Miller, Sr. Corporate Communications Manager, (470) 306-9043
